LTC plans to retain its current factory as a paint shop after the last TX4 diesel taxis are built this summer.

It will also use the Ansty Park factory site to house research and development facilities. The company had previously indicated interest in other types of electrified commercial vehicles, as a way to increase its potential market.

Formerly known as London Taxis International, the company was in dire financial straits in 2013 when it was bought by Geely.